Customer Retention Optimization Strategies to Keep Customers Long-Term

Totango

Your customers are your enterprise’s life’s blood. When you get a new customer, work to retain them and grow customer lifetime value. When you retain a customer, you’ve won a valuable patron who will be far likelier to want future sales or try new products. .

Customer Centric Culture – putting theory into practice

ijgolding

I speak and write regularly about the increasing addition of the word ‘customer’ to the typical vocabulary of business leaders. All businesses have a Customer Experience – whether they are conscious of it or not. So simply talking about Customer Experience means nothing.

Embedding Customer Centricity: The Customer Experience Jigsaw Puzzle

ijgolding

As I continue to develop my Customer Experience Specialism around the globe, a number of questions are continually raised by the people I meet. How many customer segments should we have? Should we have a Chief Customer Officer.

Customer Experience Commitment – 2016 Customer Centricity Research Findings

ijgolding

When it comes to the subject of Customer Experience, there are many questions I would like to know the answer to. So this year, I wanted to explore another aspect of Customer Experience that I find extremely interesting. ENABLE people to have a customer focused mindset.

Customer Service; Customer Experience; Customer Centricity – what is the difference between them?

ijgolding

It is difficult to deny that these three terms are becoming increasingly visible in the language of business: Customer Service. Customer Experience. Customer Centricity. Customer Services is NOT Customer Experience. So what is Customer Experience?

The 5 Best Customer Retention Strategies for Subscription Businesses

Totango

The most desirable customer in the world is your customer. While it’s no doubt a thrill to pursue and persuade a new customer to work with your enterprise, for software and subscription-based businesses, the real value lies in customer retention.

Customer Service Trends 2018: Creating Effortless Customer-Centric Experiences

Kayako

At Kayako, we do our best to understand not just our customers’ needs, but their customers’ needs, as well. Customers hate putting in effort to get problems resolved. Becoming customer-centric will be the goal of most businesses this year.

Trends 275

Customer Centric Decisions

ClearAction

Customer Centric Decisions Lynn Hunsaker. Do you have a customer-focus creed? In the conference room of a company I visited recently a poster served as a clear reminder for customer centric decision-making. Can we do this successfully, and will our customers notice?

Customer Centric Sales & Service Policies

ClearAction

Customer Centric Sales & Service Policies Lynn Hunsaker. As we strive to win customers’ hearts and share-of-wallet, remember that kindness breeds gratitude , which builds customer enthusiasm for a brand. Are we truly grateful for our customers?

Customer Retention vs New Customer Acquisition: How Do You Optimize Both?

Totango

Your customer only sees one brand. For them, customer attraction and retention blur together into one ongoing journey. . Knowing these different stages can be powerful for monitoring, servicing, and motivating customers, but it all needs to come from a unified, consistent brand.

Find, Win, Keep: A simple customer centric business strategy

ijgolding

Gary’s probing went as follows: ‘What is our strategy to sustainably FIND new customers?’ Back in 1999, the concept of the ‘customer journey’ did not really exist. I would have to pay significantly more to upgrade than if I were a new customer.

Customer Retention in Banking: Strategies to Get You Started

ReviewTrackers

Bank Customer Retention: Why It Matters. You’ve probably heard this more than a dozen times: retaining a customer is so much cheaper than acquiring a new one. According to Kantar , banks that lead in the customer experience index have a recommendation rate that is 1.9

Customer experience does not apply to us – ‘we’re different’! Is it possible to be a genuinely ‘customer centric’ law firm?

ijgolding

During these conversations, it has become abundantly clear that those who know a lot about Legal and Accounting firms are concerned that they are amongst the most ‘un-customer centric’ organisations on the planet. They THINK that Customer Experience does not apply to them.

How to Navigate Toward Customer Centricity

PeopleMetrics

Picture your customers, darting across the water on jet skis, able to make quick water-spray turns to their heart's content. What I’m saying is, in this age of customer fluidity and freedom, your turning radius is not ideal. Use customer and employee feedback to make minor corrections.

7 Ways Phone Calls and Live Chat Improve Customer Retention and Revenue

Kayako

Especially when it comes to service businesses, both traditional and SaaS, because service solutions often need to be tailored to the individual customer. Calls and live chat increase customer retention and upsell opportunities. The customer’s success takes the back seat.

3 Reasons Why Customer Understanding Matters for Customer Centricity

PeopleMetrics

In customer experience management, we use transactional surveys to guide actions for customer centricity. Such exchanges are typically what prospective clients seek from customer experience software like ours. What’s the lifetime value of each customer type?

Best Practices for Customer-Centric Decision Making

PeopleMetrics

Great customer experiences don’t just happen. As we mentioned in an earlier section, our research found that adhering to a decision-making process that considers the impact on the customer is one of the practices that separate growth banks from non-growth banks. Know our customers."Listen

Understanding the Real Impact of Improving Customer Retention

ChurnZero

Did you know: For every 1% increase in revenue retention, a SaaS company’s valuation increases by 12% after five years? This was just one of the takeaways from our well-attended webinar this week on- Understanding the Real Impact of Improving Retention and Customer Success Best Practices.

5 Customer-Centric Marketing Strategies for SaaS Companies That Deliver ROI

Totango

Customer-centric’ no longer just refers to a marketing strategy—it’s a whole economy. Seemingly every customer believes they have the power to bend the business world to their exact needs. To acknowledge that customers want better service isn’t enough.

ROI 88

Customer Centric Culture

ClearAction

Customer Centric Culture Lynn Hunsaker. What Does it Mean to be Customer-centric? To have the customer’s best interests as the focus of your attention — not to be pre-occupied in your own interests at the customer’s expense. To do this, you need to: (1) Really know the customer in order to anticipate their best interests. (2) Customer-Centric Primary Motives: Making it easier and nicer for the customer to get and use solutions.

Top Priorities in Customer-Centric Contact Centers

RapportBoost

Did you miss this Customer Experience Update Webinar from the end of November? Read the transcript below: Nicholas Rodriguez: …the highest priorities for Contact Centers that focus on the customer. There are many channels and customers often have strong preferences.

5 ways CEOs can build truly customer-centric organizations

Eptica

Date: Wednesday, October 23, 2019 Author: Olivier Njamfa - CEO & Co-Founder 5 ways CEOs can build truly customer-centric organizations. Putting the customer first requires a radical shift in many businesses, with a change in strategy, culture and how they are organized.

A ‘Fresh’ Look At Customer Retention and Loyalty (Part I)

Maz Iqbal

Especially so when we get to customer-centricity, customer experience, customer loyalty… Whilst some folks can tell that Trump is talking nonsense, in the … Continue reading "A ‘Fresh’ Look At Customer Retention and Loyalty (Part I)". Customer Loyalty Uncategorized customer loyalty customer retention employee loyalty loyalty centred business strategic approach to loyalty

A ‘Fresh’ Look At Customer Retention and Loyalty (Part I)

Maz Iqbal

Especially so when we get to customer-centricity, customer experience, customer loyalty… Whilst some folks can tell that Trump is talking nonsense, in the … Continue reading "A ‘Fresh’ Look At Customer Retention and Loyalty (Part I)". Customer Loyalty Uncategorized customer loyalty customer retention employee loyalty loyalty centred business strategic approach to loyalty

How technology can drive a customer centric culture: 3 true stories

TechSee

Developing a customer centric culture in a large enterprise goes beyond addressing a customer by name in an automated email, or segmenting by interest; it is a holistic approach designed to focus on the consumer’s authentic needs. Assisting customers when time is of the essence.

Opinion or Reality? Does Customer Experience really make a difference?

ijgolding

I am unlikely to be the first person to write an article focusing on whether or not the Customer Experience really makes a difference. On a weekly basis, Customer Experience Professionals all over the world are being challenged to demonstrate the ‘tangible’ value focusing on the Customer […]. I am also unlikely to be the last.

5 Tests to Reveal How Customer Centric Your Channel Strategy Is

Beyond Philosophy

Do you allow Customers to use whatever channel they wish to communicate with you, or do you restrict them to one or two channels? The answer to this question can show how Customer centric your company is. This post is the fifth in a series of nine posts that uses our Naïve to Natural customer-centricity assessment. Today we are looking at Channels, one of the nine parts of your current experience that contributes to Customer centricity of your organization.

Is Your Company Customer-Centric or Ego-Centric?

Michel Falcon Experience

Being customer centric requires you to be able to operate from the viewpoint of the customer. In other words, can you remove yourself as a professional and make operational decisions based on how you would react if you were the customer?

Guest Post: The Future of Customer Loyalty Mimics the Past – Customer Centricity Says It All

ShepHyken

We want the customer to feel a sense of ownership in the relationship they have with us. It’s all just a part of consumer demand, and customers still demand the in-store experience. That’s important because customer-centricity continues to be the driving force behind sales, and true customer loyalty. Retailers can make it happen by rewarding customers for actions that have nothing to do with the purchase but have solid ties to their brand and brand values.

Six customer retention strategies that will grow your business

Bold360

For the marketers – 66 percent of them – the programs were seen as a good way for customers to show loyalty to the brand. Seventy-three percent of the consumers, however, flipped the perception, looking at the programs as a great way for companies to show loyalty to customers. The study , reported in the Harvard Business Review, says a lot about how customer retention strategies can go awry when customer-centric principles get turned inside out.

Actions MUST speak louder than Words: United Airlines eat humble pie!

ijgolding

Last week I wrote an article on the subject of ‘common sense’ To be more accurate, I wrote about the lack of common sense and how it’s absence was continuing to destroy customer experiences all over the world. I apologize for having to re-accommodate these customers.

What Customer-Centric Companies Must Do To Become Customer-Obsessed

Beyond Philosophy

In building relationships with customers, and value for them, my long-time observation is that most organizations tend to progress through several stages of performance as they are becoming truly customer-centric: a) customer awareness, b) customer sensitivity, c) customer focus, and d) customer obsession. Customer Awareness. Customer Sensitivity. Customer Focus. Michael Lowenstein, Ph.D.,

How to Define Your Priorities and Build a Plan for Customer Centricity

PeopleMetrics

The final discipline of growth banking is all about listening and acting on feedback from your customers. And it starts with the decision to either build or buy a Voice of the Customer solution for your own organization. Your customers are bringing their friends and family to you.

Just because its LEGAL, does not mean its RIGHT! The importance of openness & transparency in Customer Experience

ijgolding

There are many things that have bugged me for many years when it comes to Customer Experiences that I have had as a consumer. Although I recognise I may not be your average ‘customer’, a lot of the things that bug me, also bug others.

Travel 244

How NOT to survive in a disrupted world – the case study of UK retailer, FatFace

ijgolding

It is therefore no surprise that the more we hear about failure, the more we see and hear companies amplifying the rhetoric around their desire to do more for their customers. I and my family have been ‘customers’ of FatFace for several years.

The wonderful sound of Customer Experience: Tales from South Africa

ijgolding

When I became an independent Customer Experience Specialist in 2012, I could scarcely have imagined where my chosen career, my passion, would take me. South Africa seems, on first impressions anyway, to be a country that takes Customer Experience seriously!

Travel 273

Customer-Centric Transformation a no-brainer: Check out why!

Doug Leather

I admit that I’m a customer-centric evangelist because quite frankly, how else can you build meaningful competitive advantage? Customer-centricity is all about differentiation and it’s almost impossible to sustain differentiation around product, price and distribution footprint. But you can sustain differentiation around your customer knowledge, insights and understanding. Maximising the return for the investor is not necessarily good for the customer!

Customer-Centricity! Oh, I’m Doing that Already!

Doug Leather

Customer-Centric? Yet he was adamant he had ‘customer-centricity’ under control. A refusal to really understand what customer-centricity is all about. And what really agitates me is a verbal commitment made to developing themselves as an internationally recognised exemplar of customer experience. Yeah right! I had a really interesting discussion with a prospective client recently. He is the MD of a multi franchise vehicle business. Successful?

Measuring ROI of Customer Centricity-Changes in Customer Value

CCO Council

Customer executives are regularly challenged to prove the value of their initiatives. To effectively demonstrate value, customer executives need to show how their customer initiatives impact one or more of these key factors. In my previous post I described the historical retrospective approach whereby incremental per-customer or per–segment revenue gains are correlated with increasing loyalty and engagement.

ROI 70

24 Experts Reveal Their Top Customer Retention Strategies For B2C Brands

Storyminers

There always seems to be a new product, service, or experience within reach of a brand’s current customer. And as we all know, replacing an existing customer costs 7 times more than retaining them. So how do you ensure your brand is retaining its precious customer base? We decided to ask experts one question: What is your most effective customer retention strategy for B2C brands? . VP of Customer Experience, Compellon. Stop trying to “satisfy” customers.

B2C 116